Refinance

FHA volumes, a key contributor to Ginnie Mae issuance, could fall as long as the refinancing boom continues — unless the FHA takes a step that could reverse that trend.

With the 10-year Treasury yield getting a boost due to Pfizer’s COVID-19 vaccine news this week, KBW predicts insurers and title underwriters will fare best as recovery continues.

Problems with self-service tools and inconsistent communication have damaged consumer perception of their lender, J.D. Power said.

The company, which earned $535 million in net income in 3Q20, has been prioritizing purchase volume and managing costs to account for a possible decline in originations next year.

Compared with the second quarter, the title insurer had 154,000 more orders opened and earned $89 per residential file.

Brookfield and JV partner Swig Co. are refinancing debt and cashing out $200M in equity in the iconic, sloped-base midtown Manhattan office tower.

Mortgage applications increased 3.8% from one week earlier as a drop in most loan interest rates brought on an increase in refinance activity, according to the Mortgage Bankers Association.

Meanwhile, the delinquency rate is up 89% year-over-year, according to Black Knight.

Researchers are increasingly focused on the risks related to owner-occupied loans with low balances and low-income properties with a limited number of renters.

Mortgage application fraud risk dropped drastically from 2019 with the spike in refinances, but the fallout from the coronavirus means next year could come with more risk, according to CoreLogic.

But for the first time in a month, fewer consumers refinanced into a government-guaranteed mortgage.

The mortgage unit contributed $20 million of the $26 million the holding company earned over that period.

The final consent order contained the largest penalty, for $1.8 million to be paid by Low VA Rates. In total, the CFPB has issued $4.4 million in fines for such marketing of VA loans.

The company had lower losses on its mortgage servicing rights investments compared with the second quarter.

First American Financial, Old Republic, Stewart reveal how the third-quarter results point their way forward.

But an expected drop in refinancings as mortgage rates rise should more than cancel that out, resulting in declining overall volume through 2023.

Mortgage volume continues to surge, driven by borrowers refinancing behind record-low interest rates, according to Ellie Mae.

The pandemic has turned stress-testing around liquidity from theory into an actual case study. And while lenders shore up their cash reserves, they explain why many have been hesitant to take advantage of Ginnie Mae's Pass-Through Assistance Program.

Leadership from those entities confirmed this week that they will move forward with a plan to add a controversial 50-basis-point charge for refinancing.

Mortgage applications decreased 0.6% from one week earlier, although a slight drop in purchase volume belied the fact that consumers are taking advantage of the current rate environment, according to the Mortgage Bankers Association.